Netflix collapses 8% on the stock market despite adding almost 6 million subscribers in three months

by archynewsycom
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The actions of Netflix have opened this Thursday with a collapse above 8% in the NYSEdespite the fact that the company managed to add in the last three months to 5.89 million users thanks to the siege of shared accounts.

the platform of streaming presented some results in the early hours of Wednesday in which they declared they had 234.8 million subscribers to June 2023, 8% more than a year ago and the highest number in history of the company.

Despite the apparent success in turning the tables on its new strategy, marked by the end of shared accounts and the launch of the subscription with adsthe markets have decided to give the thumbs down and penalize the company’s titles because the company has grown less in revenue than expected.

Thus, the 8,187 million dollars invoiced (7,330 million euros at the current exchange rate), represent a growth of 2.7% compared to the same period last year, but remain below the 8,300 million expected by the average of the analysts. This has been analyzed by investors as the firm’s new users are betting on the firm’s cheapest plans, weakening revenue growth despite the rising user base.

The technological has reacted quickly and, in addition to promising 7.5% revenue growth in the following quarter, it will stop offering its plans with cheaper ads in USA y United Kingdom. “Our starting prices of $6.99 in the US and £4.99 in the UK (5.76 euros) on the model with ads were lower than those of the competition and offered the full breadth and quality of our catalog,” the company justified, according to EFE.

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